Bank of America Corp DE grew its stake in shares of Chemed Co. (NYSE:CHE – Get Rating) by 10.5% during the 1st quarter, HoldingsChannel reports. The fund owned 164,611 shares of the company's stock after acquiring an additional 15,651 shares during the period. Bank of America Corp DE's holdings in Chemed were worth $83,385,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of CHE. Qube Research & Technologies Ltd purchased a new position in shares of Chemed during the 4th quarter valued at $701,000. Bank of Montreal Can boosted its holdings in Chemed by 60.8% in the fourth quarter. Bank of Montreal Can now owns 5,052 shares of the company's stock worth $2,700,000 after purchasing an additional 1,911 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in Chemed by 73.2% in the fourth quarter. Allianz Asset Management GmbH now owns 7,702 shares of the company's stock worth $4,075,000 after purchasing an additional 3,256 shares in the last quarter. Schroder Investment Management Group boosted its holdings in Chemed by 727.4% in the fourth quarter. Schroder Investment Management Group now owns 14,719 shares of the company's stock worth $7,787,000 after purchasing an additional 12,940 shares in the last quarter. Finally, Gotham Asset Management LLC boosted its holdings in Chemed by 107.2% in the fourth quarter. Gotham Asset Management LLC now owns 1,210 shares of the company's stock worth $640,000 after purchasing an additional 626 shares in the last quarter. 90.42% of the stock is currently owned by hedge funds and other institutional investors.
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Wall Street Analysts Forecast Growth
Separately, Royal Bank of Canada decreased their price objective on shares of Chemed from $592.00 to $541.00 and set an "outperform" rating for the company in a report on Monday, August 1st.
Chemed Trading Down 1.1 %
Shares of NYSE:CHE opened at $451.95 on Friday. The stock has a market capitalization of $6.73 billion, a PE ratio of 25.14, a P/E/G ratio of 3.43 and a beta of 0.51. Chemed Co. has a 1 year low of $403.00 and a 1 year high of $539.87. The firm has a fifty day moving average price of $481.91 and a 200 day moving average price of $485.65. The company has a current ratio of 0.71, a quick ratio of 0.68 and a debt-to-equity ratio of 0.16.
Chemed (NYSE:CHE – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The company reported $4.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.78 by $0.06. Chemed had a net margin of 12.95% and a return on equity of 44.64%. The company had revenue of $531.29 million during the quarter, compared to analysts' expectations of $538.07 million. During the same period in the prior year, the company earned $4.60 earnings per share. The business's quarterly revenue was down .2% compared to the same quarter last year. Analysts expect that Chemed Co. will post 18.72 EPS for the current fiscal year.
Chemed Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Shareholders of record on Monday, August 15th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 0.34%. This is a boost from Chemed's previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, August 12th. Chemed's dividend payout ratio is 8.45%.
Insider Buying and Selling at Chemed
In other Chemed news, CEO Kevin J. Mcnamara sold 2,000 shares of the company's stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $474.13, for a total transaction of $948,260.00. Following the completion of the sale, the chief executive officer now directly owns 124,235 shares in the company, valued at $58,903,540.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Kevin J. Mcnamara sold 2,000 shares of the company's stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $474.13, for a total transaction of $948,260.00. Following the completion of the transaction, the chief executive officer now owns 124,235 shares of the company's stock, valued at $58,903,540.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kevin J. Mcnamara sold 3,000 shares of the company's stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $481.93, for a total transaction of $1,445,790.00. Following the transaction, the chief executive officer now directly owns 125,185 shares of the company's stock, valued at approximately $60,330,407.05. The disclosure for this sale can be found here. Corporate insiders own 4.03% of the company's stock.
Chemed Company Profile
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Chemed Corporation provides hospice and palliative care services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers primarily in the United States. The company operates in two segments, VITAS and Roto-Rooter. It offers plumbing, drain cleaning, excavation, water restoration, and other related services to residential and commercial customers through company-owned branches, independent contractors, and franchisees.
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